Lender · Indianapolis, IN · Member since 2024 · 21 posts · 5 votes
1y
Get connected with a hard money lender and get an idea of your buying power. Using a lender instead of funding a deal with your own cash allows you to scale quicker. Find out their terms (length of loan, interest rate, down payment, fees, etc). Find an experienced and trusted general contractor who works efficiently with great quality. Lastly, find a real estate agent who can help you find the deals, run comps, negotiate on your behalf and help you list to sell your flip once its completed. The key to success in flipping is your team.
Property Manager · Johnson County, KS · Member since 2020 · 6 posts · 2 votes
1y
A lot to unpack with that. Ultimately would you're likley wanting to learn about is the BRRRR method (Buy Rehab Rent Refinance Repeat). The funding from this often comes from hard money leneders, or private sources. KC has a few reputable hard money lenders.
It helps to have a good agent on your side, and a property manager ( I am both!). If you want to hear about my services I can help or possibly refer you to someone who may be able to help.
You either use cash, hard money, or private money to buy the house. Then you rehab it, sell it for a profit, and use those proceeds to fund the next deal. The more you build a track record, the easier it gets to line up financing and repeat the process. I would just make sure you find a really solid general contractor that has proper pricing, communication and timing. Hard to find someone that can do all three but I'll take 2 out 3.
Hey Michael, good question! The short version is: secure financing that covers both the purchase and the rehab, complete the renovations, sell the property, then roll the profits into your next deal. That’s the rinse-and-repeat cycle most fix & flip investors use.
There are loan products built specifically for this strategy that can help you move quickly and free up cash for your next project. I sent you a DM, Let's connect, I’m happy to share how those typically work.
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
1y
Do you have capital to start? Hard money is a very common route to go. Biggest parts with fix and flips are 1) Having a good, trusted GC 2) Verifying your ARV is realistic 3) Being conservative on the rehab estimate.